Policy Regarding ESG

Japan Rental Housing Investments Inc. (the "Investment Corporation") and Daiwa Real Estate Asset Management Co., Ltd. (the "Asset Manager") will focus on the following items in the asset management for the Investment Corporation judging that emphasizing ESG (Environment, Social and Governance) contributes to the enhancement of the Investment Corporation's medium- to long-term corporate value.

1. Initiatives on Environmental Protection (Environment)

We will proactively promote initiatives on environmental protection such as resource and energy-saving measures such as the introduction of facilities and equipment contributing to environmental protection at the properties owned by the Investment Corporation.

2. Connection to Society (Social)

We will proactively disclose information and fulfill accountability to all of stakeholders including investors in the Investment Corporation and correspondent banks through IR activities, etc. We will accomplish social missions of a listed investment corporation and its asset manager by providing high-quality and comfortable residential spaces in partnership with the property management companies to all of the tenants occupying the Investment Corporation’s properties. In addition, the Asset Manager aims to achieve an ideal working environment that places importance on work life balance of officers and employees while endeavoring to develop human resources through such as training inside and outside the company, to contribute to society through excellent asset management.

3. Corporate Governance (Governance)

The Asset Manager and the Investment Corporation will conduct highly transparent and reasonable decision making by observing the laws and regulations and various rules while being aware of the importance of corporate ethics and compliance. In addition, the Asset Manager will make efforts to enhance the internal control environment such as preventing conflicts of interests and implementing risk management, conduct educational and enlightenment activities for officers and employees, etc. to fulfill the duty of care of good managers and fiduciary duty (fiduciary liability).

Sustainability Initiatives

The Asset Management Company established the rules on the sustainability promotion system in November 2017 to implement the Investment Corporation's policy regarding ESG in a thorough manner and designated the President & CEO as the "Chief Executive for Promoting Sustainability," in addition to establishing a "Chief Sustainability Officer" and "Sustainability Promotion Committee."

The "Sustainability Promotion Committee" is composed of members including the CEO and Chief Sustainability Officer. It is held more than once every three months in principle and matters regarding the promotion of sustainability such as individual policies, goals and various measures regarding sustainability are discussed.

In the above rules, "Sustainability" is defined as an action to conduct asset management taking into consideration the environment and society, and having it contribute to the creation of a sustainable society as well as aim to stabilize and sustainably develop business activities of the Investment Corporation and the Asset Management Company.

In addition, we established various policies for energy saving, reduction of greenhouse gas emissions, water saving and sustainable procurement in properties owned by the Investment Corporation in February 2018 to set a specific management policy based on the above rules.

We have set the following goals regarding the reduction of energy, etc. for all properties owned by the Investment Corporation in the various policies mentioned above.

  • Reduction of energy consumption intensity by 1% per year (5% in 5 years)
  • Reduction of CO2 emission intensity from energy sources by 1% per year (5% in 5 years)
  • Reduction of water consumption intensity by 0.2% per year (1% in 5 years)

As for the sustainable procurement policy, we established guidelines for the selection and evaluation standards of property management companies as well as suppliers, and started cooperating with the Investment Corporation in the implementation of ESG and monitoring of compliance with the standards.

Case of Receiving Environmental Certification from Outside Evaluation Agency


Daiwa Real Estate Asset Management participated in the 2018 “GRESB Real Estate Assessment” by Global Real Estate Sustainability Benchmark (GRESB) and received the highest rating of “Green Star,” having been highly evaluated for sustainability in both aspects of “Management and Policy” and “Implementation and Management.”

  • gresb

GRESB is an industry-led international organization which intends to evaluate sustainability performance of real estate portfolios (including listed funds, private funds and direct investments).
(For detailed information, please refer to the GRESB website. https://gresb.com/

DBJ Green Building Certification

DBJ Green Building Certification Program was launched by Development Bank of Japan Inc. ("DBJ") in April, 2011, for the purpose of supporting properties that demonstrate environmental and social awareness ("Green Building"). Since August 2017, Japan Real Estate Institute (JREI) executes the certification while DBJ controls the overall program.
The program evaluates and certifies properties given consideration by society and the economy, providing comprehensive assessment of properties while evaluating various factors which range from the environmental features of properties to communication with stakeholders, such as disaster prevention and considerations for surrounding communities.
For details of the certification program, please refer to the following website of DBJ Green Building Certification: http://igb.jp/en/index.html

[ Certificated in March 2018 ]

Chijikoukanmae Tower Residence Property with excellent environmental
& social awareness
  • DBJ
  • Chijikoukanmae Tower Residence

[ Certificated in July 2016 ]

Serenite Honmachi Grande Property with high environmental
& social awareness
  • DBJ
  • Serenite Honmachi Grande

Assessment Points upon Certifying

■ Chijikoukanmae Tower Residence

  • Having a full range of equipment such as establishing a home delivery locker and a garbage station that are open around-the-clock, in addition to proactively introducing eco-friendly equipment such as adoption of LED lighting and water-saving toilets.
  • For the details of the DBJ Green Building Certification which the Investment Corporation certificated in March 2018, please refer to the press release published by DBJ.
    http://igb.jp/gb-wp/wp-content/uploads/2018/03/topics20180330-1.pdf (Japanese only)

■ Serenite Honmachi Grande

  • Execution of initiatives with high environmental awareness, such as adopting LED lighting throughout common-use areas and conducting public awareness activities to enhance energy-saving awareness of residents.
  • Enhancing convenience for residents by providing a full range of common-use services such as placing bicycle parking in the common-use area on each floor for improved crime prevention.
  • For the details of the DBJ Green Building Certification which the Investment Corporation certificated in July 2016, please refer to the press release published by DBJ.
    http://www.dbj.jp/ja/topics/dbj_news/2016/html/0000022726.html (Japanese only)
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